Invitation Homes
Owns, leases, and manages single-family rentals while building new supply through ResiBuilt.
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Profile
Owns and leases single-family homes across growth markets in the western and southeastern United States, while managing joint-venture and third-party portfolios. Rent and property income anchor revenue; ResiBuilt fee-building, developer lending, and management services extend the platform beyond wholly owned rentals.
Owns and leases single-family homes, manages additional homes for joint ventures and third-party owners, and earns primarily from rent and property-related charges. ResiBuilt adds fee-based homebuilding and internal development capabilities, while developer lending and builder relationships expand access to newly built supply. Operations are concentrated across 16 U.S. markets in the West, Florida, and the Southeast.
Combines centralized leasing, pricing, technology, and asset management with local renovation and maintenance teams, using portfolio density to control service and operating costs. Results depend on occupancy, resident rent payments and renewals, while property taxes, insurance, homeowners-association fees, and maintenance are comparatively fixed. Institutional-ownership policy initiatives can constrain acquisitions; leasing follows state and local landlord-tenant rules, and construction depends on land, permitting, materials, labor, and contractor execution.
Company facts
Categories
Key statistics
Year to date +5.5% · Average volume (30d) 3.8M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 3, 2026 | Oppenheimer | Reiterate | Outperform | $31 | $33 | |
| Jun 24, 2026 | Wells Fargo | Upgrade | Sector Perform | Overweight | $31 | $33 |
| Jun 18, 2026 | Scotiabank | Reiterate | Sector Perform | $29 | $30 | |
| Jun 17, 2026 | Mizuho Securities | Target | $27 | $31 | ||
| Jun 15, 2026 | BMO Capital | Reiterate | Market Perform | $35 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | $0.17 | $0.37 | +116.6% | $731.1M | $747.6M | +2.2% | −1.46% |
| Apr 29, 2026Q1 FY26 | $0.18 | $0.26 | +46.3% | $689.9M | $734.1M | +6.4% | +2.49% |
| Feb 18, 2026Q4 FY25 | $0.18 | $0.27 | +48.2% | $686.7M | $685.3M | −0.2% | −4.32% |
| Oct 29, 2025Q3 FY25 | $0.47 | $0.22 | −53.2% | $683.0M | $688.2M | +0.8% | +3.42% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $674.5M | $681.4M | $688.2M | $685.3M | $734.1M | $747.6M | |
| Gross profit | $400.3M | $401.3M | $429.1M | $21.2M | $404.5M | $411.9M | |
| Operating income | $187.6M | $192.2M | $410.7M | $187.1M | $79.4M | $184.0M | |
| Net income | $165.7M | $140.9M | $136.7M | $144.6M | $160.5M | $218.8M | |
| Diluted EPS | $0.27 | $0.23 | $0.22 | $0.24 | $0.26 | $0.37 | |
| Gross margin | 59.3% | 58.9% | 62.4% | 3.1% | 55.1% | 55.1% | |
| Operating margin | 27.8% | 28.2% | 59.7% | 27.3% | 10.8% | 24.6% |
Fiscal years (4-quarter sums)FY21 $2.00B · FY22 $2.24B · FY23 $2.43B · FY24 $2.62B · FY25 $2.73B
Balance sheet, Jun 30, 2026Cash & short-term investments $75.8M · Total debt $8.55B · Total assets $18.45B · Shareholders' equity $9.05B
Dividends
Raised for 7 straight years — most recently to $0.30 from $0.29 in Dec 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 25, 2026 | Jun 25 | Jul 17 | $0.30 | |
| Mar 26, 2026 | Mar 26 | Apr 17 | $0.30 | |
| Dec 23, 2025 | Dec 23 | Jan 16 | $0.30 | raised from $0.29 |
| Sep 25, 2025 | Sep 25 | Oct 17 | $0.29 | |
| Jun 26, 2025 | Jun 26 | Jul 18 | $0.29 | |
| Mar 27, 2025 | Mar 27 | Apr 17 | $0.29 | |
| Dec 26, 2024 | Dec 26 | Jan 17 | $0.29 | raised from $0.28 |
| Sep 26, 2024 | Sep 26 | Oct 18 | $0.28 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 594.04M · Float 536.60M · 90.3% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 61.80M | 10.40% | 13F | Aug 7, 2026 |
| Norges Bank | 51.51M | 8.67% | 13F | Aug 12, 2026 |
| Vanguard Portfolio Management LLC | 48.04M | 8.09% | 13F | Aug 13, 2026 |
| State Street Corp | 38.05M | 6.41% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 37.31M | 6.28% | 13F | Aug 13, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- American Homes 4 Rent
Direct public single-family rental peer.
- Mid-America Apartment Communities
Sun Belt apartment alternative to single-family rental homes.
- Camden Property Trust
Sun Belt apartment alternative to single-family rental homes.
- AvalonBay Communities
Apartment REIT competing for professionally managed renters.
- Equity Residential
Apartment REIT alternative in overlapping U.S. rental markets.
- UDR
Apartment REIT alternative in professional rental housing.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Invitation Homes | $28.97 | −0.93% | $17.37B | 26.8 | 38.4 | 6.1 | +9.7% |
| American Homes 4 Rent | $33.54 | 0.00% | $12.05B | 26.6 | 44.0 | 6.4 | +2.8% |
| Mid-America Apartment Communities | $128.57 | −0.84% | $15.08B | 37.9 | 41.5 | 6.8 | +1.0% |
| Camden Property Trust | $106.35 | +0.03% | $10.69B | 35.3 | 101.8 | 6.8 | −0.9% |
| AvalonBay Communities | $184.06 | 0.00% | $26.28B | 25.4 | 35.5 | 8.5 | −6.3% |
| Equity Residential | $63.66 | −3.50% | $23.87B | 27.9 | 42.5 | 7.6 | +2.1% |
| UDR | $37.12 | −0.01% | $11.93B | 23.6 | 64.3 | 6.9 | −0.6% |
| Median | 27.3 | 43.2 | 6.9 | +0.2% |